NSD's Multibank Transit 2.0 now supports messaging for deposit placement

10 July 2023
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NSD's Multibank Transit 2.0 begins supporting a new type of financial messages used in deposit placement.

The standard for financial messages has been developed based on ISO 20022 format, which is designed for building automated "seamless" business processes using unified payment messaging models for cross-border transactions.

Alexey Fedorov, Senior Managing Director of Development and Customer relations at NSD, said:

As a financial market infrastructure, we do our best to ensure that interaction between participants is universal, convenient and easy. To this end, we have developed a model document that will enable NSD Multibank corporate clients to make deposits with providing banks through the Transit 2.0 one-stop-shop."

The new type of financial messaging will be put in production at the end of the third quarter of 2023. Testing will involve Rosbank and Sovcombank.

Alexander Grigoriev, owner of Direct Integration Host-to-Host by Rosbank: "Multibank developed by NSD has allowed corporates to centralise financial flow management and consolidate data on free balances in the accounts of subsidiaries. The product has logically evolved to allow corporates to generate additional income by placing these funds in deposit accounts."

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